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Bulgaria's HUS cuts 2018 net profit despite rise in revenue

Author Mario Tanev
Bulgaria's HUS cuts 2018 net profit despite rise in revenue HUS/All rights reserved.

SOFIA (Bulgaria), July 5 (SeeNews) - Bulgarian metals trader and metal products manufacturer HUS said that its net profit fell to 32.3 million levs ($18.6 million/16.5 million euro) in 2018 from 44.6 million levs the year before.

HUS' operating revenue rose to 493.5 million levs last year from 451.4 million levs in 2017, the company said in an annual financial statement.

Operating expenses grew to 459.2 million levs in 2018 from 401.1 million levs in 2017, as expenses for materials and hired services increased to 218.3 million levs from 173.3 million levs.

Cost of goods sold edged up to 209.3 million levs from 205.4 million levs.

The company's assets rose to 454.4 million levs at the end of 2018 from 385.7 million levs a year earlier.

HUS has 14 production and storage facilities in Bulgaria.

(1 euro = 1.95583 levs)

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